The US is probably the best country in the world for the deployment of wind/solar energy due to the combination of a number of factors: 1) excellent wind/solar resources (wind and solar capacity factors are literally double the global average), 2) lots of space 3) stringent coal regulations greatly inflating capital costs, 4) abundant natural gas for balancing wind/solar and 5) good subsidy support. However, the figures presented in this article (Lazard) are over-optimistic, using low-end capital costs and high-end capacity factors. As shown below, real world numbers for wind and solar costs result in LCOE numbers which are 32% and 64% higher than Lazard's estimates respectively.
Let's compare Lazard's 2012 analysis to real world data for wind and solar.
Lazard: capital costs: $1500-2000, capacity factor: 30-48%
Real world: capital costs: $2000/kW average ($1400-4400/kW), capacity factor: 33% average (18-53%)
LCOE using 20 year lifetime, 6% discount rate and operating costs of $30/kW/yr:
Lazard $1750/kW and 39%: $53.4/MWh
Real world $2000/kW and 33%: $70.7/MWh (32% higher)
Lazard: capital costs: $2000-2750/kW, capacity factor: 20-27%
Real world: capital costs: $4000/kW average ($2600-8000/kW), capacity factor 23% average (15-30%)
For PV it is important to distinguish between AC and DC capacity factors and costs, something which Lazard seems to have missed.
LCOE using 30 year lifetime, 6% discount rate and operating costs of $30/kW/yr:
Lazard $2400/kW and 24%: $97.2/MWh
Real world $4000/kW and 23%: $159.1/MWh (64% higher)